Connecticut Department of Economic and Community Development
07/12/2024 | Press release | Distributed by Public on 07/12/2024 07:35
Governor Lamont Leads Delegation on Economic Development Mission in Germany To Discuss Business Expansion in Connecticut
Press Releases
07/12/2024
Governor Lamont Leads Delegation on Economic Development Mission in Germany To Discuss Business Expansion in Connecticut
(HARTFORD, CT) - Governor Ned Lamont today announced that from July 15 through July 19, 2024, he will be leading a delegation of officials from Connecticut on an economic development mission in Germany, where they will meet with the leadership of several German-based companies to discuss expanding their businesses in Connecticut.
The delegation will hold meetings in Munich, Stuttgart, and Berlin with executives of companies that either have existing operations in Connecticut or that are seeking to expand their operations to North America. In addition to Governor Lamont, the delegation includes Department of Economic and Community Development Commissioner Daniel O'Keefe, Connecticut Innovations CEO Matt McCooe, and AdvanceCT CEO John Bourdeaux.
Germany is Connecticut's largest export market. In 2023, the state exported $2.1 billion in goods to Germany, representing 13% of the state's total goods exports. Additionally, Germany ranks as Connecticut's number one source of foreign direct investment.
"Our objective is to meet with executives that have expressed an interest in expanding their businesses to North America and let them know that Connecticut - with the best-educated and best-trained workforce in the United States - is the ideal location for companies to develop and produce cutting-edge products and services that make businesses thrive," Governor Lamont said. "We will also be meeting with our existing corporate investors to discuss their continued growth in Connecticut. The competition for this type of foreign investment is intense, and having direct contact with employers is important to showing our commitment to their growth in our state."
"Germany is an important partner and home to many of our largest companies, so this trip is a great opportunity to strengthen those relationships and explore new trade and investment opportunities for our state," Commissioner O'Keefe said. "We look forward to working closely together to extend our trading partnership and find new ways to collaborate going forward."
"We have more than 100 German companies with operations in Connecticut," Bourdeaux said. "Last year, we announced four German expansions and new operations in Connecticut that created more than 300 new jobs, $87 million in capital expenditures, and more than 309,000 square feet of new facilities. Germany is a key market for us, and German companies are the third highest source of foreign employment in our state, representing more than 12,400 jobs. This visit will cultivate the relationships with our existing companies to keep them while developing new opportunities for our state."
While in Germany, the delegation will also attend a networking event hosted by the U.S. Department of Commerce.
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